HomeMy WebLinkAboutOTHER-2024-043-Proposed Bond Order Authorizing 300 Million in County General Obligation OTHER-2024 - 043 ; 6- c ; 6/ 18/24 Attachment 1
Proposed Bond Order for adoption
Bond Order Authorizing the Issuance of Orange County General
Obligation School Bonds in the Maximum Amount of
$ 300 , 000 , 000 , Subject To Voter Approval
WHEREAS - -
The Board of Commissioners of Orange County, North Carolina, has stated
its proposal to issue general obligation bonds to pay capital costs of providing
school facilities .
The County has applied to the North Carolina Local Government
Commission for its approval of such bonds , and the Commission has accepted
the County' s application .
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BE IT ORDERED by the Board of Commissioners of Orange County, North
Carolina, as follows :
1 . There are hereby ordered to be issued general obligation school
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bonds of the County to pay capital costs of providing school facilities, together
with related financing and other necessary or incidental costs .
2 . The maximum aggregate principal amount of the bonds issued for
such purpose will be $ 300 , 000 , 000 .
3 . Taxes will be levied in an amount sufficient to pay the principal of
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and interest on the bonds so issued .
4 . A sworn statement of debt prepared by the County ' s Finance
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Officer has been filed with the Clerk to this Board and is open to public
inspection .
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5 . This Bond Order will take effect when approved by the County ' s
voters in the manner provided by law.